Wells Fargo & Company Issues Pessimistic Forecast for PepsiCo (NASDAQ:PEP) Stock Price

PepsiCo (NASDAQ:PEP) had its target price trimmed by Wells Fargo & Company from $170.00 to $155.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities research analysts have also commented on PEP. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Piper Sandler began coverage on shares of PepsiCo in a research note on Tuesday. They issued an “overweight” rating and a $171.00 price objective on the stock. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Finally, Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $180.64.

PepsiCo Trading Up 0.8 %

Shares of NASDAQ PEP opened at $146.54 on Tuesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo has a 52-week low of $144.56 and a 52-week high of $183.41. The firm has a 50 day moving average price of $157.81 and a two-hundred day moving average price of $166.68. The stock has a market cap of $201.05 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the prior year, the company posted $2.25 EPS. The company’s revenue was down .6% on a year-over-year basis. As a group, equities analysts forecast that PepsiCo will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Global Wealth Strategies & Associates lifted its stake in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo in the third quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of PepsiCo in the third quarter valued at about $31,000. Rakuten Securities Inc. raised its holdings in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the last quarter. Finally, Mattson Financial Services LLC purchased a new stake in shares of PepsiCo in the second quarter valued at about $34,000. 73.07% of the stock is owned by institutional investors.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.